i entered wrong transaction which disturbed my currency gain/loss

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Hey all,

I had to enter a payment of in vendor account

The payment was 441,695.83 in local currency but i forgot to change the currency from USD to local currency and the amount posted in reporting is now 47,536,608.23. that messed up my currency gain and loss.

then i posted the right entry.

I posted reverse entry for above mentioned entry, but my currency gain and loss is still there. even i reversed it with same exchange rate. but my currency gain/loss is still there

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Ludwig Reinhard Microsoft Employee on at

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Hi,

Can you provide us some more details on your transactions such as whether the first payment was used for settling an open position? How the second payment was made and whether or not this second payment has been used for settling the open vendor position?

Some screenprints might help.

Thanks,

Ludwig

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one is related to vendor account and other is my currency gain and loss account

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Ludwig Reinhard Microsoft Employee on at

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Hi Abdul Rehman,

When you say 'reverse' do you mean that you created a second offsetting payment transaction or do you refer to making use of the closed transaction editing form?

The latter - that is, the closed transaction editing form can in my opinion help you correcting the wrong exchange rate gain/loss that was posted.

Probably test in a demo environment to select the invoice and payment made in the closed transaction editing form and reverse this settlement. This should create a correction posting for the foreign currency gain/loss posted. Then you can settle the right payment with your invoice through the open transaction editing form.

Finally, if you settle the wrong and the correction payment in the open transaction editing form, things should be ok again.

Please try testing this in a demo/test environment first and let us know if this fixed your issue or whether additional support is required.

Best regards,

Ludwig

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